Opportunities for the Global South, A New Fair Deal
Developing countries already under a climate change crisis, are now facing additional stress exacerbated by events unraveling in the northern hemisphere. In addition to the already existing challenges faced by the United States and Europe – e.g., Covid-19, the war in Ukraine, energy supply conundrum and the looming potential of a recession – there is a need to not lose sight of long-term objectives in the Global South.
The crisis caused by Russian aggression has further heightened the global need to rethink, reform and align our policy priorities. From a development point of view, any discussion on trade needs to cover not only trade in goods and services, but also capital flows, i.e., foreign direct investments, but also consider supply chains and threats to the trade system. Our experts will discuss how to: Rethink the understanding of the interdependency of development with trade and climate; Reform the role of donor countries – in particular the US and EU/Germany – as to their ability to meeting the needs of developing countries in a moment of shifting power balances in the North; Align policy discussions on development, trade and climate with a focus on including perspectives from the Global South, especially given the current triple crisis of sustainable energy access, food and capital scarcity.